Wedding Ring Statistics

U.S. shoppers spent $31.3 billion on jewelry in 2023, yet 19% delayed big-ticket buys—here are the affordability trends behind wedding rings.
Magnus ÖbergAdrien Chevalier

Written by Magnus Öberg

Fact-checked by Adrien Chevalier

Statistics
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Sources
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Sections
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Reading time
6 minutes
Wedding ring statistics connect market momentum, costs, and how people buy. In the U.S., jewelers and precious-stone workers earn a median $18.03 per hour, and gold averaged $2,417 per troy ounce in 2024—both affect ring prices. At the same time, online jewelry and watch sales reached $26.9 billion in 2024 and 26.3% of retail was online, while 14.1% used installment plans. Next, we break down what drives pricing, choice, and demand.

Key Takeaways

  1. 1The diamond jewelry market is expected to grow from $97.4 billion in 2023 to $142.8 billion by 2030
  2. 2The worldwide wedding industry market is forecast to reach $307.7 billion by 2026
  3. 3The global jewelry market is projected to reach $490.6 billion in 2025
  4. 4In May 2024, the median hourly wage for jewelers and precious stone and metal workers was $18.03 in the U.S.
  5. 5In 2024, the U.S. wholesale jewelry and watches industry revenue was $8.6 billion
  6. 6In 2023, the U.S. jewelry industry employed about 250,000 people, supporting wedding ring production and retail
  7. 7The average U.S. credit card APR in 2024 was 21.59%, which influences revolving-cost affordability for higher-priced ring purchases
  8. 8In 2024, 19% of U.S. consumers said they delayed or postponed big-ticket purchases due to higher prices, including apparel and accessories such as jewelry
  9. 914.1% of surveyed U.S. consumers used an installment plan or buy-now-pay-later for a jewelry purchase in the past year
  10. 10In 2024, the U.S. jewelry and watch e-commerce category generated $26.9 billion in sales
  11. 11In 2024, online penetration of jewelry and watches retail sales in the U.S. was 26.3%
  12. 12In 2024, average platinum recycling rates reached 33% of supply used in industrial and jewelry applications globally
  13. 13In 2024, the price of gold averaged $2,417 per troy ounce globally, a key input for gold wedding rings
  14. 14The average U.S. cost of a wedding band set was $1,514 in 2024
  15. 15U.S. e-commerce sales accounted for 15.0% of total retail sales in Q4 2023

With wedding and jewelry markets booming and rising prices, U.S. couples increasingly plan purchases online and via financing.

Related reading

01Market Size

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  1. 1The diamond jewelry market is expected to grow from $97.4 billion in 2023 to $142.8 billion by 2030
  2. 2The worldwide wedding industry market is forecast to reach $307.7 billion by 2026
  3. 3The global jewelry market is projected to reach $490.6 billion in 2025
  4. 4U.S. consumers spent $31.3 billion on jewelry in 2023

02Industry Employment

4
  1. 1In May 2024, the median hourly wage for jewelers and precious stone and metal workers was $18.03in the U.S.
  2. 2In 2024, the U.S. wholesale jewelry and watches industry revenue was $8.6 billion
  3. 3In 2023, the U.S. jewelry industry employed about 250,000 people, supporting wedding ring production and retail
  4. 4In 2023, U.S. jewelry manufacturing NAICS 339910 had 14,420 establishments

More related reading

03Pricing & Affordability

3
  1. 1The average U.S. credit card APR in 2024 was 21.59%, which influences revolving-cost affordability for higher-priced ring purchases
  2. 2In 2024, 19% of U.S. consumers said they delayed or postponed big-ticket purchases due to higher prices, including apparel and accessories such as jewelry
  3. 314.1% of surveyed U.S. consumers used an installment plan or buy-now-pay-later for a jewelry purchase in the past year

04Market Demand

2
  1. 1In 2024, the U.S. jewelry and watch e-commerce category generated $26.9 billion in sales
  2. 2In 2024, online penetration of jewelry and watches retail sales in the U.S. was 26.3%

More related reading

05Industry Overview

7
  1. 1In 2024, average platinum recycling rates reached 33% of supply used in industrial and jewelry applications globally
  2. 2In 2024, the price of gold averaged $2,417per troy ounce globally, a key input for gold wedding rings
  3. 3The average U.S. cost of a wedding band set was $1,514in 2024
  4. 4In 2024, 22% of U.S. consumers said they used a virtual try-on tool when purchasing a ring
  5. 52.1 million weddings occurred in the U.S. in 2021
  6. 634% of wedding parties include at least one item of jewelry from family or heirlooms
  7. 729% of U.S. consumers say they bought a product labeled “sustainable” in the past year

Cite this report

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APA
Magnus Öberg. (2026, September 22). Wedding Ring Statistics. Statpit. https://statpit.com/wedding-ring-statistics
MLA
Magnus Öberg. "Wedding Ring Statistics." Statpit, 22 Sep 2026, https://statpit.com/wedding-ring-statistics.
Chicago
Magnus Öberg. 2026. "Wedding Ring Statistics." Statpit. https://statpit.com/wedding-ring-statistics.

Sources and references

22 datasets cited across this report. Attribution is report-level.

marketsandmarkets.comfortunebusinessinsights.combls.govibisworld.combankrate.comcnbc.comstatista.commatthey.comgold.orgtheknot.comvoguebusiness.comcensus.govbrides.comcdc.gov

8 additional datasets are cited and not shown individually.